FINANCIAL PLANNING INFORMATION
In the past many new leaders have asked for details on financial
planning in break-out & general discussion sessions. This
handout is intended to give you an outline of unit financial planning
considerations. The cornerstone of good financial planning is
a budget. The same is true of the financial planning you will
face in running a pack. The Pack Committee is responsible for
planning the pack's budget. As your Pack Committee plans its budget,
it will generally consider the items listed provided below. Although
the list is fairly comprehensive, be aware that each pack will
have expenses that are unique to its operations and that you may
have income sources other than those in the list.
BUDGET - EXPENSE ITEMS
Dues and Fees
- Individual Registration Fees - $10.00 each.
- Boys Life Magazine - $12.00
- Pack Dues, if any (Some Packs charge dues on an annual or semi-annual basis)
- Unit Accident Insurance
- Basic Operating Expenses
- Advancement Awards
This may be the biggest single budget item depending upon the size of
your Pack and the progress of your Scouts. For example, advancement awards for a first year Webelos Scout earning eleven Activity Badges,
Webelos Colors, Webelos Rank, Compass Patch, Compass Points, and three Belt Loops would cost just under $27. A Den of six boys with similar advancement would then cost near $160.
Cost list as of Jan., 2002:
- Webelos Emblem - $1.30,
- Webelos Colors - $3.20
- Activity Badge - $1.35,
- Compass Emblem $2.20,
- Compass Point - $1.15,
- Belt Loop - $1.25.
Second year Webelos advancement should cost somewhat less; while Tiger, Wolf, and Bear advancement costs are generally much lower. You may also want to factor in the cost of attendance award pins and services stars at about $2.00 per Scout and $1.00 per registered leader.
- Insignia and Regalia of Membership
Some units present each new scout with his Council Strip, Unit
Number, Neckerchief, and slide at an induction ceremony or at a
Tiger Cub crossover ceremony.
- Leader Training Fees
- Fees associated with reserving meeting places
- Day Camp Registration Fee
- Long Term Resident Camp Registration Fees
- Council & District Activities Registration Fees (e.g. Camporee,
Pinewood Derby, Scout Extravaganza)
- United States Flag, Pack Flag, Den Flags, if new ones are needed.
- Ceremonial equipment
- Record books, forms, etc.
- Cub Scout Leader Books for Registered Leaders
- Other books, literature, and materials needed for meetings.
Usually pack activities are financed by charges to each participant. However, some activities require special pack equipment or the
payment of fees in advance. These costs should be budgeted as expenses and fees charged to participants listed as income.
- Holiday Party or Special Events
- Pinewood Derby Cars
Some packs provide each Scout with a pinewood derby kit as a present at a holiday party.
- Maintenance of Pinewood Derby Track
- Pinewood Derby Expenses
- Blue and Gold Banquet Expenses
- Scout Extravaganza Display
- Spring, Summer or Fall Picnic or Cook-out
- Den Support
Some packs allocate an amount to each den to defray the costs of den activities and crafts that exceed den dues
BUDGET - SOURCES OF INCOME
- Sale of Scouting Event Tickets
- Pack Meeting Fundraisers - Cake Auction
- Council/District Popcorn Sales
- Yard Sales/Flea Marketing
- Other Approved Fund Raising Activities
- Reserve Fund established by Chartering Organization
Each Pack should have its own bank account maintained by its treasurer.
Pack monies should never be deposited in a personal bank or checking
account. To insure that monies are properly accounted for the
Pack Committee should set up controls; e.g. limiting the number
of persons who can sign Pack checks, requiring advance approval
of expenditures in excess of a certain amount, monthly reports,
etc. At a minimum the Pack Committee must decide who will:
- Sign account signature cards and checks
- Make deposits
- Have checks available for use
- Approve expenses and at what level